CryptoMediaClub
Tuesday, June 24, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Crypto Hacks Cost $176 Million in June, a 54% Drop from May

02.07.2024
A A
0
124
VIEWS
ShareShare

There was a major decline in crypto hacks in June, with losses totaling $176 million, according to recent PeckShield data. June numbers mark a 54.2% drop from the staggering $385 million thieves stole in May.

PeckShield revealed that over 20 security breaches occurred in June.

Crypto Hacks Slow Down in June, A Rare Bright Spot

The largest hack in June targeted the BtcTurk crypto exchange, with hackers stealing over $100 million in crypto assets. Following closely was the UK centralized exchange Lykke, which suffered a $22 million loss.

The decentralized finance (DeFi) sector also suffered, with lending protocol UwU hacked for $19.4 million, ranking as the third-largest exploit of the month.

#PeckShieldAlert June 2024 witnessed 20+ hacks in the crypto space, resulting in ~$176.2 million in losses. This marks a decrease of 54.2% from May 2024 (w/ ~$385m in hackers' profits).#Top 5 Hacks:#Btctruk: $100.25 million (CeFi)#Lykke: $22 million (CeFi)#UwULend: $19.4… pic.twitter.com/83XzWf82kw

— PeckShieldAlert (@PeckShieldAlert) July 1, 2024

In contrast, May recorded about $385 million in losses, the highest so far in 2024. The Japan-based DMM crypto exchange hack resulted in a $305 million theft, the biggest case in May.

The predominant attack vectors included flash loan exploits, exit scams, and other technical vulnerabilities.

Despite these setbacks, blockchain security experts recovered approximately $96.2 million, offering some reassurance to the crypto community.

2024 Crypto Hack Trends vs. 2023

Crypto hacks continue to besiege the industry as the incidents seem to wax stronger, with more funds being lost to scammers.

According to research from blockchain security platform Immunefi, Q2 2024 saw a staggering $572 million in losses from crypto scams, more than doubling the $220 million lost in the same period of 2023.

Centralized exchanges were the primary targets, accounting for most losses. The DMM Bitcoin and BtcTurk hacks accounted for over 62% of the quarter’s total losses.

As previously reported by CryptoNews, CeFi suffered $401M in losses in Q2 this year, an insane 984% increase compared to the same period in 2023.

Crypto Hacks
Major Exploits in Q2 2024

While DeFi protocols saw a higher frequency of incidents, losses were lower at $171 million, down 25% from Q2 2023.

Crypto Hacks
Source: ImmuneFi

The Ethereum and BNB Smart Chain networks were prime targets, accounting for 71% of total losses. A new trend saw Ethereum layer 2 solutions gaining unwanted attention from malicious actors, however.

Arbitrum, in particular, became the third most targeted network, suffering four incidents and 5.5% of total losses.

Despite the grim outlook, there were some small victories, as some of the stolen funds were recovered. Protocols such as Gala Games, Alex Labs, Bloom, and Yolo Games managed to reclaim most of their lost assets.

These recoveries, while encouraging, represented only about 5% of the total losses for the quarter.

The post Crypto Hacks Cost $176 Million in June, a 54% Drop from May appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech
All news

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

24.06.2025
0

South Korean experts claim that the nation’s stablecoin pivot could hamper the growth of card providers, but provide a boost...

Read moreDetails
Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

24.06.2025
$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

23.06.2025
Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

23.06.2025
$2M Whale Purchase Rescues FARTCOIN from Collapse — $2 Price Target Within Reach?

$2M Whale Purchase Rescues FARTCOIN from Collapse — $2 Price Target Within Reach?

23.06.2025
Load More
Next Post
Japanese E-commerce Giant Mercari to Give Away Bitcoin in Promotion Drive

Japanese E-commerce Giant Mercari to Give Away Bitcoin in Promotion Drive

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

High-Profile Whale Loses Over $24M in Crypto Phishing Attack: Report

2 years ago

With Shiba Inu & Dogecoin Prices Pumping, Is Wall Street Memes the Next Meme Coin to Explode?

2 years ago
Over 11% of Journey Companies Now Settle for Crypto Funds

Over 11% of Journey Companies Now Settle for Crypto Funds

5 months ago
US Policy Group Proposes Bitcoin Tax-free Digital Economic Zone

US Policy Group Proposes Bitcoin Tax-free Digital Economic Zone

11 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

$2M Whale Purchase Rescues FARTCOIN from Collapse — $2 Price Target Within Reach?

Major Ethereum, Solana, XRP losses cause chance of Altcoin Season to drop to 12 month low amid Bitcoin strength

HKD Stablecoin for International Trade in Preparation

Trending

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech
All news

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

24.06.2025
0

South Korean experts claim that the nation’s stablecoin pivot could hamper the growth of card providers, but...

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

24.06.2025
Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

24.06.2025
$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

23.06.2025
Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

23.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz